Japan: Preserved Salmon Market 2024

Preserved Salmon Market Size in Japan

The Japanese preserved salmon market fell modestly to $X in 2021, standing approx. at the previous year. Overall, consumption showed a deep reduction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Preserved Salmon Production in Japan

In value terms, preserved salmon production rose significantly to $X in 2021 estimated in export price. Overall, production, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when the production volume increased by 17% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Preserved Salmon Exports

Exports from Japan

In 2021, shipments abroad of salmon (prepared or preserved) decreased by -38.1% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, continue to indicate a resilient increase. The growth pace was the most rapid in 2013 when exports increased by 91% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, preserved salmon exports fell remarkably to $X in 2021. In general, exports, however, recorded a strong increase. The growth pace was the most rapid in 2013 when exports increased by 89% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons), the United States (X tons) and Hong Kong SAR (X tons) were the main destinations of preserved salmon exports from Japan, with a combined 82% share of total exports. Vietnam, Guam, Singapore and China lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +58.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved salmon exported from Japan were Taiwan (Chinese) ($X), Hong Kong SAR ($X) and the United States ($X), together accounting for 81% of total exports. Vietnam, Guam, Singapore and China lagged somewhat behind, together comprising a further 17%.

Vietnam, with a CAGR of +50.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average preserved salmon export price amounted to $X per ton, remaining stable against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 13% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Salmon Imports

Imports into Japan

For the fifth year in a row, Japan recorded decline in supplies from abroad of salmon (prepared or preserved), which decreased by -10.5% to X tons in 2021. Over the period under review, imports recorded a noticeable curtailment. The growth pace was the most rapid in 2016 when imports increased by 9.7% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, preserved salmon imports reduced to $X in 2021. Overall, imports showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2016 when imports increased by 15% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Vietnam (X tons) constituted the largest preserved salmon supplier to Japan, with a 54% share of total imports. Moreover, preserved salmon imports from Vietnam exceeded the figures recorded by the second-largest supplier, China (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume from Vietnam amounted to +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-12.5% per year) and Thailand (-5.3% per year).

In value terms, the largest preserved salmon suppliers to Japan were Vietnam ($X), Thailand ($X) and China ($X), with a combined 97% share of total imports.

Vietnam, with a CAGR of +12.3%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average preserved salmon import price stood at $X per ton in 2021, approximately equating the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 13%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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